Rent to Own Homes in San Fernando Valley
The San Fernando Valley is a heavily populated suburban region just north of Los Angeles. It is surrounded by the Transverse Range, with the Santa Susana Mountains on the northwest, the Simi Hills to the west, the Santa Monica Mountains and Chalk Hills to the south and the San Gabriel Mountains to the northeast.The below results are primarily rent to own homes in :
The San Fernando Valley is a heavily populated suburban region just north of Los Angeles. It is surrounded by the Transverse Range, with the Santa Susana Mountains on the northwest, the Simi Hills to the west, the Santa Monica Mountains and Chalk Hills to the south and the San Gabriel Mountains to the northeast.The below results are primarily rent to own homes in :
More than 1.7 million people live in the San Fernando Valley, drawn to the region for its proximity to jobs, entertainment and activities as well as its comfortable climate and fertile land. Before its explosion in population, the San Fernando Valley was a hotbed of agriculture, filled with cattle and other livestock, peach and apricot orchards, fields of tomatoes and orange and lemon groves. Today, San Fernando Valley’s economy is more diverse, ranging from entertainment industries to aerospace and nuclear research companies. Half of Los Angeles County contractors are located in the San Fernando Valley, and many of the top entertainment companies are located here, including Warner Bros., University Studios, Disney and Dreamworks. San Fernando Valley, or “The Valley” to Angelenos, is one of the most populated areas in California. If it were its own, single town, it would be the fifth largest city in the United States. The towns that make up the Valley include Burbank, Glendale, Calabasas, Hidden Hills, San Fernando and parts of Los Angeles such as Sherman Oaks, Van Nuys, Chatsworth, North Hollywood and Encino. Some of the Valley’s unincorporated communities include Universal City, Bell Canyon and West Chatsworth.
Buying vs. Rent to Own Homes
Renting to own a home and buying a home both have the same end goal – you own the house you’re interested in. The difference between the two is your timeline. Buying a property is a great idea if you’re sure about the property and you have financing to purchase it today.
Lease-options are a good idea when you’re having doubts about the house or if you’re not financially ready to own the house you’re looking at. They’re a good option if you almost have a high enough credit score, a steady enough job history or a big enough down payment to qualify for financing on the home, but you need some more time to qualify. Rent to own gives you time to get your affairs in order, ability to try out a house and flexibility to close on the home when you’re ready – without having to wait for the end of a lease.
To be clear, if you can buy a house today, you should do it. If you’re looking at buying within the next three years, rent to own is a good way to start the process.
Rent to Own Realtors
Rent to own is beneficial to both buyers and sellers, but that’s not common knowledge. A lot of people look to realtors as a credible source of information for their counterpart in a rent to own deal about the benefits of the program.
However, you likely won’t find a realtor who is interested in helping you. There’s not a lot of profit for realtors in rent to own deals.
Instead, you’ll have to become a credible expert on the process yourself. Honestly, that’s not a bad thing. It’s better that you know everything you need to about the process you’re investing so much time and money into.
About Our Listings
Whether you’re interested in purchasing a condo or a townhouse, or if you’ve been touring apartments and houses, rent to own can be a good option for buyers – often with no credit check.
Just because the seller isn’t checking your credit score doesn’t mean you shouldn’t worry about it. You’ll need to have a credit score high enough to qualify for financing if you want to succeed in a rent to buy deal.
In rent to own by owner programs, sellers want to make a profit off of their properties. They will earn rent money from you whether you successfully buy the house or not. So, they don’t really worry about whether you have the credit score to buy it at the end of the lease.
Lease to purchase deals from a company are often less successful than from an owner because companies tend to snatch up cheap foreclosed homes and lease-option them on an “as is” basis.
Owners who are eager to sell their property may ask you to sign a lease-purchase agreement, which is very different from a lease-option because instead of having the option to buy the property before the end of the lease, you legally have to buy it. That can be difficult if you start the deal with bad credit and cannot bring it up high enough to qualify for a mortgage.
Looking for rent to own listings near me? Start your search on the Rent to Own Labs database.